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As a crypto trader, what would you usually do when you need to capture the investment opportunity of other financial assets, for example, the stock of Tesla?
The newly launched potential trading platform Dsdaq may be a good choice. With the Dsdaq app, you are provided the possibility of exploring and trading easily hundreds of traditional financial assets with your cryptos.
So today, we will take an overall look at this rising trading platform.
By the way, this guide is written for the beginner right through to the advanced, so you should be able to get some value from this piece no matter your level of experience. In this guide, we will be looking at the different aspects of Dsdaq after the brief introduction, like the main features, its investors and liquidity providers, security technic systems used, and the most important point you may be interested in: Dsdaq bonus, affiliate program and its platform token OD. Also, there are some operational explanations about the registration, deposit, withdraw, transfer and trading at the end.
Now, let’s start the Dsdaq review!
What is Dsdaq?
Dsdaq describes itself as the bridge connecting the crypto world and global capital markets. This is a truly brilliant idea because users are able to use their BTC, ETH or USDT to trade 300+ popular conventional financial assets such as stocks, indices, commodities, ETF, futures, and forex, with leverages from 2X to 100X.
The breakthrough innovation is the so-called “crypto collateral trading system”, with which users can borrow money from Dsdaq to trade global markets meanwhile still hold their cryptos.
With such a starting point, Dsdaq is considered to have its special potential for different types of traders in the financial asset investment and crypto investment world. As this trading platform functions like a gateway, paving the road for crypto traders towards the traditional financial world, investors are provided the largest convenience in making flexible investment decisions and the most diversification of portfolios.
Having tested the app, I could feel the team’s efforts to realize their ambitions. For crypto believers, they can now use their cryptos as collaterals to trade conventional financial assets on Dsdaq, so as to diversify their investment to hedge risks and capture opportunities more easily. For traditional financial traders, the speed and cost on Dsdaq for deposit and withdrawal by using cryptos is surprisingly unparalleled. For traders who are limited in accessing global markets freely, Dsdaq removes investment barriers caused by lack of financial infrastructure or foreign currency control.
Main Features of Dsdaq
The trading platform Dsdaq is packed full of features to make traders’ life easier and more profitable. Here are the main features which make Dsdaq competitive and potential in the future market:
- Use crypto as collateral to trade global markets, you don’t have to sell your cryptos.
- Borrow money from Platform with high collateral rate: 100% for USDT, 70% for BTC and ETH.
- Fast deposit and withdraw speed and low cost compared with traditional security brokers.
- Use one account to trade almost all types of assets.
- Low trading fee – Zero fee for traditional financial asset trade, 0.1% for crypto spot trading, for crypto contract trade, the fee is 0.02% for maker and 0.05% for taker.
- Very low overnight funding cost for traditional asset trade: 0.015% per day
- 2x to 100x leverage
- User friendly for entry level users
- Excellent 24/7 customer service
|Company Name||Dsdaq Market Ltd.|
|Offices||Hong Kong, Seoul|
Who Invested in Dsdaq?
As a fintech startup, Dsdaq’s initial funding is from traditional equity investors. As disclosed publicly, Dsdaq received a $1.5 million angel investment in April, 2020 from DraperDragon Innovation Fund III, a Silicon Valley based venture capital firm associated with Tim Draper and Efftronics Asia, a multi billions family investment office in Hong Kong.
Is it safe to trade on Dsdaq?
According to the information disclosed on its official website, it is fair to say Dsdaq is a platform that is much more reliable and accountable than many existing exchanges.
First, as mentioned above, Dsdaq was invested by a well known Silicon Valley based VC. I double checked the information on the DraperDragon website and found Dsdaq logo on the portfolio company page. I also found out Tim Draper is the special limited partner of this fund. We all know that Mr. Tim Draper is worldly recognized by his investment in many unicorns including coinbase, robinhood and Tesla, etc. Considering that traditional VC firms are very picky when making an investment, I believe that Dsdaq is a trustworthy platform.
Secondly, Dsdaq claims that it offers institutional level aggregated liquidity and utilizes the Straight Through Processing (STP) execution. The list of liquidity providers could be found on its website (as seen below). Advantage of STP execution is that it removes potential conflict of interest and is able to ensure that trades of users are passed straight to liquidity providers. I personally will feel comfortable if Dsdaq’s liquidity providers are big names.
Third, the platform has brought forward an all around solution to address the security issues, including wallet security, system security and account security.
Overall, it is recommendable to use Dsdaq for users who are interested in trading financial assets with cryptos. Of course, starting with a small deposit is appropriate.
What makes Dsdaq special?
In the past, crypto traders could only make crypto spot trade and contract trade. Now with Dsdaq, they could use their cryptos to trade 300+ stocks, indices, commodities, foreign currencies and ETFs, enabling them to hedge the risk of holding one single type of asset.
Most crypto traders are risk lovers. However we all know that big whales can easily manipulate the crypto price to force small investors to liquidate. Now on Dsdaq crypto traders can also use leverage to profit from up and down of global markets, which are strictly regulated and the prices are impossible to be manipulated, so as to protect their fund from malicious fraud.
The building of the Dsdaq trading platform also helps to improve the financial infrastructure of under-developed regions with blockchain technology and bridge the gap between traditional finance and the crypto world, as global traders could invest in financial assets from any different countries.
What assets can you trade on Dsdaq?
Currently, there are more than 300 most popular assets that are tradable on Dsdaq, not only traditional financial assets, but also the hottest Defi tokens such as SUSHI, YFI, YFII.
The brief view of all trading assets categorized by types of financial assets on Dsdaq is shown below:
If you want to see a full list of the tradable assets, you could go to the ” Discover” page of Dsdaq App, click the search bar and you can find all assets that can be traded on Dsdaq (see the demonstration below):
Trade on Dsdaq
If you open your Dsdaq wallet page, you will find the “wallet” on Dsdaq for all users is composed of three sub-accounts: Crypto Account, Crypto Contract Account and Crypto Collateral Account.
Same as other crypto exchanges, users deposit and withdraw cryptocurrencies in and from their “Crypto Account”. By clicking each of the coin names, users will see buttons like deposit, withdraw, transfer and spot trade. Users could make crypto spot trade with their crypto account.
Crypto Contract Account
If users want to make crypto contract trade, firstly they need to transfer some cryptos from crypto account to crypto contract account, then they can start to trade crypto contracts. Moving cryptos between the sub-accounts is real time and free of charge. The function crypto contract trade is also pretty similar with other major crypto exchanges. It is a perpetual contract and the liquidity depth is pretty good. Dsdaq provides leverage from 2X to 100X.
Crypto Collateral Account – The secret of trading global markets on Dsdaq
Here comes the most unique feature of Dsdaq. The concept of crypto collateral account (“CCA”) is a great innovation by Dsdaq, aimed to allow traders to use cryptos as collateral to trade financial assets like stocks, indices, gold, oil and forex.
If users want to trade various global assets, they need to transfer some cryptos from crypto account to their crypto collateral account first. Right after transferring, users will see the balance in the crypto collateral account.
Dsdaq will lend money in USD standard to users according to the real time value of cryptos in their crypto collateral account, so they can start to trade the traditional financial assets.
Only BTC, ETH and USDT could be used as collateral on Dsdaq, this is reasonable because these three cryptos have the best liquidity. According to Dsdaq, the collateral rates are 100% for USDT and 70% for BTC and ETH. The collateral rates look good to me, if you want to maximize your buying power, I would recommend you use USDT as the collateral.
Further look into the crypto collateral account, you could find the net value, the net collateral value and the margin level of each user will be calculated as:
Net Value=USD balance+(Crypto Amount+Current Crypto Price)+Unrealized Profit/Loss
Net Collateral Value=USD balance +(Crypto Amount*Current Crypto Price*Collateral Rate)+Unrealized Profit/Loss
Margin Level=(Net Collateral Value/Reserved Margin)*100%
When Margin Level is less than 150%, users will receive margin calls by email and SMS. While the Margin Level is less than 50%, users’ positions will be forcibly closed.
Keep in mind that the margin level should not be too low.
Besides, I found out that Dsdaq uses a hedging margin which is very friendly to users.
According to the explanation, hedging margin on Dsdaq is set to the ‘larger side’. If a user opens both buy and sell positions for the same asset, only the margin for the larger portion of the hedge trade will be applied. Here is an example: you buy 10 lots of Nasdaq 100 and use $2000 as a reserved margin, and after that the price keeps dropping and you decide to open a sell position of 9 lots of Nasdaq 100 to hedge the loss. The required margin for 9 lots of Nasdaq 100 short positions is $1800. However, In this case, the actual reserved margin for the total 19 lots of Nasdaq 100 is still $2000, not $3800.
When you make profits in crypto collateral trading, your profits will be US Dollars. When you close a position with profits, the profits will be added to your USD balance in your crypto collateral account. If you want to withdraw the USD, you need to convert it to cryptos(BTC, ETH or USDT), then transfer the cryptos to the Crypto Account, and then you could withdraw.
As many other platforms, Dsdaq also offers incentives to its registered users. The 10 USD welcome bonus is available for all new users, but the bonus is not withdrawable, you have to make trades to unlock the bonus. This looks to me like a rebate.
You can unlock bonuses by making trades on Dsdaq. You are able to unlock $1 bonus for every trading volume of $6000. It is easily achievable for most since 50x-100x leverage is available for many assets, thus for every $6000 with 100x leverage, you only need use $60 as margin to trade.
When you open and close a position, your bonus will be unlocked. The bonu will be added to your USD balance in the crypto collateral account immediately and could be used for trade or withdrawal.
If you use referral code from others to sign up for your Dsdaq account, you will get a $20 welcome bonus.
Low trading fees on the market
Dsdaq does not charge fees when you trade financial contracts using crypto, meaning that users could trade stocks, indices, commodities, ETFs, forex with cryptos at no cost. The platform only makes profit through spread.
The fee for crypto spot trading is 0.1% for all trading pairs.
When it comes to crypto contract trading, Dsdaq keeps it simple at 0.02% for makers and 0.05% for takers respectively. These rates seem to be very competitive in the market.
|Crypto Spot trading fee||0.1%|
|Crypto contract trading fee||Maker fee:0.02%|
|Financial assets trading fee||0%|
Dsdaq platform token – Origin D
Dsdaq also issues its platform token named Origin D(OD), it is a decentralized crypto-token issued on the Ethereum network could be viewed as the security tokens of the platform.
OD seems to be valuable enough that you cannot miss because OD’s future value is supported by the following two schemes:
1. OD issuance volume will gradually deflate. Starting from 2021, the difficulty of mining OD through trades will increase by 10% from the previous cycle four times each year.
2. the buyback and burn of OD. Each quarter, Dsdaq will use 30% of the platform profits to repurchase and burn OD.
You could consider OD as the proof of the rights and interests of the Dsdaq network. If you become the holder of OD, then you are going to enjoy rights of getting free airdrop tokens, voting in community governance, becoming Dsdaq global node, and so on.
Dsdaq has not raised any fund through ICO. All ODs will be rewarded to its users, and promoters 100% free. As a user of Dsdaq, you can get a certain amount of OD for every successful transaction. Especially, it is found that Dsdaq encourages early adopters by using a pre-set deflation model, thus early users will get more OD. As the transaction volume and the amount of users increase, it will be more difficult to get OD.
Users will also receive OD as rewards by promoting Dsdaq, there are many ongoing bounty programs.
The total circulation of OD is 1 billion. The distribution scheme is as follows:
Users: 70%, to reward users for trading and promotion.Ecosystem partners and early equity .
Investors: 20%, unlocked in four years,25% per year.
Team: 10%, unlocked in four years, 25% per year.
OD is not tradable now, but Dsdaq announced that it will list OD in Q4 2020, and by then OD could be traded with USDT.
Dsdaq Affiliate Program
As usually what other trading platforms would do, Dsdaq also has their own affiliate program. And I found more clues that Dsdaq truly puts the interests of users first of all, and encourages invitations to increase users of the platform.
Invite your friends to sign up on Dsdaq, and they will get a $20 welcome bonus, and as an inviter, you could earn a 30% commission fee every time your friends make a trade on Dsdaq.
What’s more surprising for this referral program is that the inviter could enjoy life time commission. In many other exchanges, usually you could only receive commission from your friend for 6 to 12 months.
How to invite friends?
- Download and install Dsdaq on your mobile phone. Register an account.
- Open the Dsdaq App and enter the ‘Account‘ , ‘Referral‘, then you can find your referral link or referral ID.
- Share your referral link to your friends for his/her registration.
Once your friend signs up successfully with your referral code or link, you are able to enjoy your passive income lifetime.
24/7 Customer Support
Dsdaq offers 24/7 customer support, I have tried several times and their customer supporting staffs are always there and ready to help. The platform also uses Zendesk’s help system and responds to questions quickly by emails.
There are Dsdaq telegram groups for interested traders around the world, through which you could also seek help from the admins.
The official twitter account @DsdaqCom also actively works for traders around the social media.
You can find the contact details of Dsdaq below:
Dsdaq has the main help center which comprises detailed articles & guides about everything to do with the exchange.
If you have an issue on Dsdaq, this is where you can go first – your answer may well be easy to find there.
You can contact Dsdaq by ‘live chat’ on the official website or the application. You will be served by customer supporters in minutes.
Get started on Dsdaq
How to sign up for a Dsdaq account?
Getting setup with a Dsdaq account is really easy and takes less than 5 minutes each user.
Step 1: Download and install Dsdaq App.
Step 2: Open Dsdaq and click “Account” entering your account page.
Step 3: click “Enter” – ” haven’t registered? Sign up“.
Step 4: Enter your email, choose a password, and fill in the referral code if you have one.
Step 5: Check the Term of Dsdaq box and the nationality statement box, then submit.
Step 6: You will receive an email from Dsdaq, fill in the 4 digits security code into the app correctly and your Dsdaq account would have been set up successfully.
How To set up 2FA on Dsdaq?
Step 1: Login to Dsdaq App
Step 2: Go to “Account“-“Setting“-“Security Center“
Step 3: Open “google Authenticator Verification“
Step 4: Follow the steps as prompted by Dsdaq to set up 2FA on your account.
Deposit, withdraw and transfer
How to deposit on Dsdaq?
- Login to Dsdaq APP : click “Wallet” and select the coin.
- Click “Deposit” .
- Copy the deposit address & paste the address into your withdrawal platform or scan the deposit address QR code.
- To monitor the standing of deposit: Wallet – Crypto – The name of coin.
How to withdraw?
- Login to the Dsdaq APP account. Click “Wallet” and select the coin.
- Click “Withdraw“.
- Choose the“Withdrawal Address” and “Withdraw Amount” button, and then tap “Withdraw”.
- To monitor the state of your withdrawal: Tap Wallet -Crypto – The name of Coin.
How to transfer between sub-accounts?
If users want to buy and sell the crypto contract or financial product contract, They require to transfer crypto to crypto contract account, another option is crypto collateral account first.
Step 1: Choose and tap the crypto you require to make a transfer.
Step 2: Choose the sub-account you require to make a transfer funds in.
Step 3: Enter the amount.
Step 4: Click the “Transfer” button.
Reminder: Users have to complete Google 2FA verification, every time they transfer crypto to crypto collateral account.
How to trade on Dsdaq?
Here lists several main questions about the trade on Dsdaq.
What are the trading hours for different markets?
Users are able to trade cryptos all the time because the market is available 24 hours 7 day a week.
In terms of traditional financial products, the trading hours are distinct. Users are able to find the corresponding data at the asset page. There is also a reminder below the candle chart when the market is closed.
How to open a position?
- Click the Buy or Sell button at the asset page.
- Choose market price or limit price.
- Users can use leverage if it is necessary ( the leverages are fixed for financial products).
- Enter the amount.
- Submit the order by clicking the bottom button.
How to close a position?
- You need to find the position that you want to close first. From there, you can view your positions by clicking the portfolio icon (located at the left or watchlist) on the home page.
- Click the position you want to close.
3. Users are able to tap the “close” button to stop the position for crypto contracts; Moreover, users can tap the “X” to stop the position for collateral financial contracts.
To summarise, Dsdaq serves as the bridge of cryptocurrency and global financial market. This trading platform is suitable for a wide range of traders, crypto holders and caters for even the most in-experienced.
The highlights would be the diversified investment instruments.
Like anything, there is however room for improvement with some aspects of the platform. Mainly, regarding the existing 300+ financial assets, I hope there should be more assets and cryptos for trading, and it is a pity that they don’t have a web version.
Overall, It is recommendable to use Dsdaq for anyone who is interested in trading financial assets with cryptos.
To stay up to date with the latest news about Dsdaq, bookmark the Dsdaq Blog and subscribe to their telegram group chat.
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